Osram and Continental planning intelligent lighting JV
Osram and Continental are set to establish an intelligent lighting joint venture. The global joint venture will operate under the name Osram Continental GmbH and have its registered office in the Munich region. Osram and Continental will each have a 50 per cent stake in the joint venture. The aim is to generate annual sales in the mid-triple-digit-million-euro range with a workforce of around 1,500 employees and 17 locations worldwide.
Dirk Linzmeier (CEO) from Osram and Harald Renner (CFO) from Continental have been named as designated managing directors. The joint venture is scheduled to start in 2018 subject to final agreement on the binding contracts and antitrust approvals.
Osram will be transferring its automotive Solid State Lighting (SSL) module business over to the joint venture. Continental will be incorporating its light control business from the Body & Security business unit. This will lead Osram Continental to combine semiconductor-based lighting modules, advanced electronics, optics and software expertise with access to sensor technology and innovative light sources.
“The joint venture is a sign that Osram is focusing its efforts consistently on digitalization. Continental’s expertise in software and electronics is the perfect complement to our technology leadership in automotive lighting. It will create a forward-looking company for digital automotive lighting,” said Stefan Kampmann, CTO of the Osram Licht AG.
“The pace of innovation in the automotive industry lighting segment is rapid, and software is strengthening this dynamic,” explained Helmut Matschi, member of the Continental Executive Board. “While conventional lighting expertise remains important to our customers, the addition of electronics to enable new light functions is taking on increased significance. The joint venture will systematically combine these two areas and raise them to a new level.”
Market studies indicate that by as early as 2025 more than half of new cars worldwide could be fitted with semiconductor-based lighting solutions.